top of page

Northgate Industrial

Phoenix, AZ





August 10, 2022



Flex-Industrial Location Features Custom Improvements Supporting Pharmacy, Clean Room, Production and Storage Space for Human & Pet Pharmaceuticals; Major MSA Industrial and Life Science-Focused Properties Remain Favored by Lenders Targeting Fixed-Rate Permanent Loans

Phoenix, Ariz. – Gantry, the largest independent commercial mortgage banking firm in the U.S., has secured a $20 million permanent loan to refinance a 100,000-square-foot flex-industrial building in Central Phoenix, customized for use in human and pet pharmaceutical product manufacturing and distribution. The property is occupied by a single credit tenant with a long-term lease and significant investment in the development of the asset’s life science operating infrastructure.

Gantry’s Tim Storey, Principal with the firm’s Phoenix production office, secured the financing on behalf of the borrower, a private investor. The ten-year, fixed rate loan featuring interest only payment terms was secured through one of Gantry’s institutional debt fund lenders.

According to Gantry’s Tim Storey, “Phoenix industrial remains one of the nation’s healthiest asset classes, supported by the region’s strong fundamentals and low occupancy rates. This specialized asset’s custom life science improvements critical to the operations of a credit tenant with a long-term lease further strengthened underwriting and allowed us to refinance the property at low leverage with an attractive, fixed rate for a 10-year term. Low leverage remains the key to securing optimized long-term commercial mortgage financing in the current cycle. As the market adjusts for a reset from inflationary pressures and macroeconomic disruptions, we encourage our borrower clients to remember that we are in an interest rate climate holding at generational norms for previous healthy cycles. Gantry’s ability to strategically review a loan requirement with hundreds of capital sources allows us to tailor optimized debt solutions that meet investment proformas and get deals done at terms that still make sense for real estate investment sponsors.”

bottom of page